QJSA Explanation Sample Clauses

QJSA Explanation. Unless Section 6.1.2 applies, within a reasonable period, but in any event no less than 30 and no more than 90 days prior to a Participant’s Benefit Commencement Date, the Plan Administrator shall provide to the Participant a written explanation of the terms and conditions of a Qualified Joint and Survivor Annuity. Such written explanation shall consist of: (A) the terms and conditions of the Qualified Joint and Survivor Annuity; (B) the Participant’s right to make, and the effect of, an election to waive the Qualified Joint and Survivor Annuity; (C) the rights of the Participant’s Spouse under Section 6.2.3; (D) the right to make, and the effect of, a revocation of a previous election to waive the Qualified Joint and Survivor Annuity; and (E) the financial effect of the various optional forms of benefit under the Plan. The Benefit Commencement Date for a distribution in a form other than a Qualified Joint and Survivor Annuity may be less than 30 days after receipt of the written explanation described in the preceding paragraph provided: (1) the Participant has been provided with information that clearly indicates that the Participant has at least 30 days to consider whether to waive the Qualified Joint and Survivor Annuity and elect (with spousal consent) to a form of distribution other than a Qualified Joint and Survivor Annuity; (2) the Participant is permitted to revoke any affirmative distribution election at least until the Benefit Commencement Date or, if later, at any time prior to the expiration of the seven-day period that begins the day after the explanation of the Qualified Joint and Survivor Annuity is provided to the Participant; and (3) the Benefit Commencement Date is a date after the date that the written explanation was provided to the Participant. The Plan Administrator may provide for such other notices, information or election periods or take such other action as the Plan Administrator considers necessary or appropriate to implement the provisions of this Section 6.2.1.